People's Trust Insurance Company
| Company type | Private |
|---|---|
| Industry | Insurance |
| Founded | 2008 |
| Founder | George Schaeffer, Michael Gold |
| Headquarters | Deerfield Beach , United States |
Key people | George Schaeffer (President and CEO) |
Number of employees | 350+ |
People’s Trust Insurance Company is a privately owned American home insurance provider headquartered in Deerfield Beach, Florida. By 2017, it stood as the eleventh largest insurer for homeowners in Florida, covering more than 110,000 clients across the state.
The role of President and CEO is held by George Schaeffer.
History
Established in 2008 by George Schaeffer and Michael Gold, People’s Trust Insurance was acknowledged as South Florida’s second fastest-growing enterprise between 2012 and 2014. The organization has a workforce exceeding 350 employees, with nearly 300 located at its Deerfield Beach headquarters.
In 2013, the company earned the Governor’s Innovators in Business Award for its contributions to economic development and diversification within Florida. The financial evaluation firm Demotech awarded People’s Trust Insurance an "A" rating for Financial Stability, indicating exceptional performance.
Rapid response team
People’s Trust Insurance is connected with Rapid Response Team LLC, Florida’s largest general contractor specializing in insurance restoration. This affiliate operates eleven response centers throughout the state, employs over 325 full-time construction specialists and roofers, manages a fleet of 150 service vehicles, and maintains extensive recovery resources.
Past company executives
- Michael Gold - Co-Founder and Chief Executive Officer - passed away January 26, 2014
- Mitch Politzer - President and Chief Operating Officer - retired in 2015
Lawsuits
In November 2013, a Florida appellate court upheld a jury verdict awarding $766,258.06 to a homeowner whose residence was destroyed by fire. Although People’s Trust Insurance had denied coverage due to alleged material misrepresentations on the insurance application, the court affirmed the jury’s ruling in favor of the claimant.